All Blogs
Sri Lankan stocks close down 0.10-pct
Sept 27, 2010 (LBO) – Sri Lankan stocks failed to hold on to early gains which propelled them past the 7,000 point mark for the first time in early trade Monday and closed weaker, brokers said. The market lost the momentum which had sent it to record highs in recent days with investors cashing-in to […]
Credit Quality
Sept 27, 2010 (LBO) – RAM Ratings Lanka has confirmed the long term rating of ˜A’ for Lankaputhra Development Bank (LDB) but lowered its outlook to negative from stable on a rise in bad loans, a statement said. The long- and short-term financial institution ratings, confirmed at A and P1, are largely upheld by the […]
Sri Lanka offers land for agri-business
Sept 27, 2010 (LBO) – Sri Lanka is offering 200 acres of land for commercial agriculture on the bank of a major river bordering the island north-eastern region, meeting long-standing requests from businesses for land, a statement said. The offer comes in response to repeated requests from agri-business firms who have been clamouring for land […]
Sri Lanka Central Bank, retrospect 1950 to 2010
Sept 27, 2010 (LBO) – In the modern era, the best recorders of history, as and when the important events occur, are the newspapers. But it is seldom that one attempts at unearthing history by tapping this source. Perhaps the enormous labour which one has to shed in perusing voluminous newspaper articles and the time […]
Sri Lanka revised IMF deal focuses on budget
Sept 27, 2010 (LBO) – A revised program Sri Lanka has signed with the International Monetary Fund is allowing more monetary space for the central bank with responsible fiscal policy continuing to be the key focus. A revised letter of intent given by the government has made a deposit insurance scheme for banks, reducing tax […]
Sri Lanka should use low-yielding cows instead of importing: official
Sept 26, 2010 (LBO) – Sri Lanka should make better use of existing stocks of low yielding milch cows in larger privately owned herds rather than importing high-yielding stocks at great cost from abroad, a top official said. There have been attempts in Sri Lanka to import higher yielding cows to improve herd stock and […]
Metro Move
Sept 25, 2010 (LBO) – A rail-based metro system may be an option in part of Sri Lanka’s capital city Colombo when passenger flows rise to levels that make it financially viable, an official said. There must be high density development in the city centre that will justify a rail-based metro system and it must […]
Sri Lanka gets more IMF cash, suggests new monetary framework
Sept 25, 2010 (LBO) – The International Monetary Fund has released 212. 5 million US dollars to Sri Lanka under its 2.5 billion US dollar program, backed reform proposals and suggested that the central bank move away from its quantity targeting monetary framework. “Further improvements in monetary policy formulation will provide useful support for macroeconomic […]
Sri Lanka urban bond raises Rs4.6bn at opening
Sept 24, 2010 (LBO) – A five-year bond issued by Sri Lanka’s Urban Development Authority (UDA), a state agency, to raise 10 billion rupees which opened Thursday has drawn 4. 6 billion rupees, a stock exchange filing said. The UDA is issuing 50 million debentures at 100 rupees each, to be doubled if oversubscribed, to […]
Sri Lanka stocks close up 1.71-pct
Sept 24, 2010 (LBO) – Sri Lankan shares closed higher Friday with heavy buying of banking sector stocks, brokers said. The All Share Price Index closed at 6,888. 49, up 1.71 percent (115.78 points) while the more liquid Milanka index rose 1.36 percent (97.14) to close at 7,263.65, according to stock exchange provisional figures. Turnover […]